The Radcliffe Central Bankers

This article analyses documents before the Radcliffe Committee on the Working of the Monetary System. The proceedings of the Radcliffe Committee are recognised as providing a watershed in the history of monetary thought, particularly as pertains to the propositions of post‐Keynesian monetary economics. These propositions, recently detailed in two books (Rousseas, 1968; Moore, 1987), can be summarised as follows: